The new encrypted currency worldCoin
The CEO of artificial intelligence research company OpenAI has developed a brand-new cryptocurrency project called Worldcoin, which went live on Monday.
This initiative stands out by presenting the 'World ID,' a user account that can only be acquired by actual people.
A customer must register to have their iris physically scanned using Worldcoin's Orb verification method, which makes use of a silver orb about the size of a bowling ball, to obtain a World ID account. A World ID account is created once an iris scan confirms the user is an actual human being.
The organization that created Worldcoin, Tools for Humanity, has its main office in San Francisco, California, and another one in Berlin, Germany.
During the test phase, the initiative attracted 2 million users. With today's launch, Worldcoin will extend the Orb verification system to 35 cities across 20 nations. In some nations, customers who register will receive a WLD token for the cryptocurrency as an incentive.
In the era of chatbots that rely on generative AI technology like ChatGPT, a World ID account is crucial since it is used to differentiate between online AI bots and actual humans.
Exchanging Cryptocurrencies The biggest cryptocurrency exchange in the world, Binance, declared that it would list Worldcoin provisionally for trading on Monday.
The idea of Universal Basic Income (UBI), a social benefit program that can be run by governments and everyone is entitled to receive payments, is one example of how Sam Altman believes Worldcoin can help address how the economy is restructured through generative AI.
When UBI is deployed, generative AI can be used to detect fraud and identify real users using World ID accounts.
With the idea of a universal basic income, Altman also anticipates a highly developed planet and the Worldcoin project is designed to make this a reality.
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